Showing posts with label loan. Show all posts
Showing posts with label loan. Show all posts

Saturday, October 2, 2010

How Long Does Escrow Last?

Before you give notice to break a lease, sell a home or hire movers, make a mental note of these typical escrow time frames.

Conventional Loans: 45 days 
FHA: 50 days 
VA: 62 days
USDA: 90 days
Short Sales (after lien holder approval): 45 days*
REO/Foreclosure: 47 days


Remember these are just the current average time frames. Your Realtor and lender will give you updates along the way to give you a good idea when you can close escrow.

*Short sales can take around 6 months to become approved for sale by the bank. After lien holder approval, escrow can officially open.